On 31 July 2009, EM Heenan J delivered reasons for decision in Western Areas Exploration Pty Ltd v Streeter (No 3) following a 17-day trial. In the proceedings, the plaintiff (WAE), a junior exploration company, alleged breaches of fiduciary duties owed to the company by its former directors Terrence Streeter and David Cooper, in 1999 and 2000. WAE alleged that Streeter and Cooper breached their fiduciary duties to the company by diverting corporate opportunities away from WAE to a newly formed company of which they became directors. The opportunities in question related to the possibility of WAE becoming the corporate vehicle into which certain mining tenements could be "vended" and used as the basis for an Initial Public Offering (IPO) and listing with the Australian Securities Exchange (ASX). Alternatively, WAE claimed the diversion of an opportunity to participate as a seed capitalist in the listing of another company.
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机译：2009年7月31日，EM Heenan J在经过17天的审判后，在Western Areas Exploration Pty Ltd诉Streeter（第3号）中做出了判决的理由。在诉讼程序中，一家初级勘探公司的原告（WAE）指控其前任董事Terrence Streeter和David Cooper在1999年和2000年违反了该公司的信托义务。WAE指控Streeter和Cooper违反了他们的信托义务，通过将公司机会从WAE转移到一家新成立的公司并由他们担任董事的公司。有问题的机会与WAE可能成为某些矿权可以“出售”并用作首次公开募股（IPO）和在澳大利亚证券交易所（ASX）上市的基础的公司工具的可能性有关。另外，WAE声称转移了以种子资本家身份参加另一家公司上市的机会。
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